What Chiropractors Need To Look For When Shopping For E&O Insurance

Chiropractors in the Ontario area deal with patients that suffer from all types of back, neck, and leg injuries. The body is a complex system made up of a bundle of nerves and pressure points. Sometimes hitting the wrong nerve or pressure point can lead to further injury of that already injured spot. When a situation like this happens, that injured party might have to undergo surgery or intense physical therapy, which is going to cost thousands of dollars. Of course, the chiropractor that is at fault is going to be sued in the court of law and forced to pay reimbursement for the financial losses.

This is why every chiropractor in the greater Ontario area needs to get covered with error and omissions insurance. However, before you go out and sign up with just any provider there are a few things that you need to understand.

Finding The Right Provider And Policy

While there are an abundance of insurance agents and polices in the Ontario area, you really need to find a provider with expert knowledge in your field. An insurance provider with extensive knowledge in the chiropractor field will
be able to cover and protect you much better than a provider with extensive knowledge in the construction field.

You can find this information by searching the Internet for local insurance providers in the Ontario area with chiropractic experience.

You also need to be aware of the fact that ever policy offered by insurance providers are going to vary. Some providers might only offer so much coverage where as another will offer more coverage. The amount of coverage that you need is really a personal preference, but court costs and lawyer fees can all add up.

Accessing Post Retirement Claims

If you are nearing your retirement date, you need to be aware of the fact that E&O claims could come up after you have retired. If this is something that you are facing, you need to make sure that your licensed agent will offer coverage post retirement. Once you are not working anymore you are going to be a greater financial risk.

Employee Coverage

It may be possible that you have employees or staff that service customers on a regular basis. These employees or staff members are also at risk of making a mistake and injuring a client, which might lead back to you being sued. Employee or administrative coverage can protect you in the event that your employees make a mistake and cause one of your clients to incur financial losses. If currently have several different employees under your belt, you need to make sure that you are covered from them as well.

Understanding What E&O Insurance Doesn’t Cover

While it is important to understand how E&O insurance works and what type of coverage it offers, you also need to know what it does not cover. E&O insurance policies do not cover illegal, malicious, or dishonest acts. It also does not cover you or your employees, in the event of an accident, while performing daily duties. If your business is at risk of the things, you are going to have to do your homework on different types of liability insurance.

Not Malpractice Insurance

It is important to note that errors and omissions insurance for professionals in ON, Canada is not the same thing as malpractice insurance. Most medical providers carry both E&O and malpractice insurance, because they are under so many risks, when performing treating patients. You can never go wrong with these professional liability policies, but you can definitely go wrong by not acquiring coverage as soon as possible. E&O insurance is a must-have for any licensed public service provider, who it is at risk of making a minor or major error.